Yantai Jereh Oilfield Services Group (002353) Q3 2024 earnings summary

Executive summary

• Q3 2024 revenue was ¥3.09 billion, down 7.38% year-over-year; net profit attributable to shareholders was ¥510 million, down 2.04% year-over-year.

• Year-to-date revenue reached ¥8.05 billion, a decrease of 8.10% compared to the same period last year; net profit attributable to shareholders was ¥1.60 billion, up 2.21% year-over-year.

• Cash flow from operating activities surged 288.38% year-over-year to ¥1.47 billion for the nine-month period.

Financial highlights

• Gross margin and operating income details not specified, but basic and diluted EPS for the nine-month period were both ¥1.58, up from ¥1.54 year-over-year.

• Total assets at quarter-end were ¥34.89 billion, up 9.80% from the end of last year; shareholders' equity was ¥20.13 billion, up 4.17%.

• Non-recurring gains for the period totaled ¥201.66 million, mainly from government grants, asset disposals, and investment income.

Key financial ratios and metrics

• Weighted average ROE for the nine-month period was 8.09%, down 0.66 percentage points year-over-year.

• Basic and diluted EPS for Q3 were both ¥0.50, down 1.22% year-over-year.